Italy launches flat-rate tax to woo non-doms

Monira Martin Senior reporter

Italy has introduced a flat rate of tax aimed at attracting wealthy expats to its shores as it seeks to compete with similar regimes offered in the UK and Spain.

The measure was initially announced last December in Italy’s Finance Bill for 2017 and was approved by parliament that month before former prime minister Matteo Renzi resigned following an embarrassing defeat in the Italian referendum.